Digital technologies are no longer far from anyone in the world. This field has spread widely and significantly and can be accessed through an Internet connection and creating a digital wallet. So many are interested in the forecast of digital currencies for the year 2020. In this article, we will address this aspect in detail.
General forecast of the digital currencies market
The cryptocurrency market may face an optimistic outlook in 2020, and, likely, the case will not be limited to Bitcoin only, as we often see that digital currencies have similar price behavior to Bitcoin, so some market analysts expect.
Cryptocurrencies are heading to an upward path, which means an increased demand for digital currencies and confidence in this area. Governments and central banks may work to embrace this field and recognize it more to reduce the hostile tone rejecting it compared to 2019. Some other cryptocurrencies may appear and compete for presence in the markets and among users in a massive way. 2020 is expected to be the most prominent year for cryptocurrencies.
Future expectations for the most important cryptocurrencies
In this article, we will discuss the digital currency forecast for 2020 for the primary, most traded, and market value cryptocurrency group, in addition to its performance in 2019, namely:
Bitcoin, as many know, is the first cryptocurrency, which was invented in 2009, and the Bitcoin project achieved complete and great success in the following years until it became the king of the crypto market and the largest digital currency in terms of daily circulation, market value and spread among users. Bitcoin is the general indicator of performance in The crypto market.
Bitcoin performance in 2019
Bitcoin started 2019 at a relatively modest price of $ 3,774.
It moved in the last days of the year at under $ 7,500.
The lowest price is reached during the year was at the end of January at $ 3,294.
Bitcoin predictions in 2020
Traders expect that Bitcoin will rise to its highest level ever and surpass it as the first cryptocurrency exceeds the price of $ 20 thousand. It aims to overcome its historical resistance due to the technical and fundamental incentives of the current Bitcoin market.
At this time, the next target is likely within. The general price is 25 thousand dollars. However: Bitcoin may need additional time before it reaches an accelerated bullish stage in this way. Still, the chances of a collapse or a decline in Bitcoin significantly decrease in the new year.
Developers invented the Ethereum coin in 2015, and it is the second most popular currency after Bitcoin and one of the largest cryptocurrencies in terms of day trading and market capitalization.
Ethereum performance in 2019
Ethereum started 2019 at $ 138.
It fell to its lowest level during the year in the first week of February at $ 99.36.
After fluctuating in low ranges, Ethereum gradually rose to its highest price in the year at $ 361.30 on the twenty-sixth of June.
Then the price fell from this strong resistance to the year-end levels, which is about a range close to the price range for the beginning of the year, and Ethereum moved in the last days of the year at $ 124.
Ethereum performance forecast in 2020
Some Ethereum currency predictions for 2020 are crazy. Some even predicted that the price would reach more than 11 thousand dollars. Still, it is in line with analysts’ vision of Bitcoin on the fiery rise during the new year, and in general, all of them remain in the realm of expectations. They may come true or give us reality Another image.
It is also one of the currencies that witnesses a great follow-up from the users of digital currencies. It was issued in 2012 and received the name Ripple in 2015, which means a wave or small wave.
Ripple’s performance in 2019
Ripple started 2019 at $ 0.345.
He moved in a sideways path for several months, then went up to the price of $ 0.491, which is the highest price is reached during the year, which it achieved in the last third of June.
Then, after testing this level, it fell to its lowest levels in the last weeks of the year until it reached $ 0.173.
Ripple ends the year at the same historical lows by moving around $ 0.186, which is a collapse in the ripple price in general.
Ripple predictions in 2020
Analysts expect Ripple ever to reach its highest historical levels and surpass them until it gets $ 10 in 2020. Thus, Ripple will head to the upside path in the long term, along with a significant increase in Ripple demand.
Outlook for 2020
Market analysts and economists expect some intense and daring possibilities for the cryptocurrency market, namely:
A significant change will occur in the global crypto arena as the economy funds enter the new year’s digital market.
Some of the governments that have worked to ban digital currencies within the country will know in the next stage the importance of their growth and its role in the economy, and experts expect that these governments will understand this and give cryptocurrencies the green light.
Suppose the expected rise in cryptocurrencies is achieved. In that case, this may lead to business people heading to increase investment in cryptography and develop new digital currencies, which will help convert their money from stocks, gold, currencies, and commodities to cryptocurrencies.
The visions are very optimistic. Yet, it cannot be said that these levels are far from occurring, as digital currencies are characterized by large and sudden volatility. They may generally rise in general in 2020, but this does not prevent them from collapse quickly. One of the criticisms directed at them is their instability Price, so you must be careful and plan well before entering any long-term deals.